What is needed for a low-income country to develop into a high-income country?

Question

Quizplus · Accepted Answer

Continuous economic expansion is necessary for a low-income country to develop into a high-income country. This involves sustained growth in gross domestic product (GDP), increased productivity, investment in infrastructure, and economic diversification. Tax breaks on consumption goods, sustained and rapid expansion in the money supply, or deflation alone cannot guarantee long-term economic growth and development.

What Is Needed for a Low-Income Country to Develop into a High-Income